eBusiness Changes Global And Strategic Marketing
Opportunity or hype?
Meinhard F. Schmidt
The Internet is transforming the world's economy. It is radically changing how people live, learn, work, play, and consume. At the centre of this revolution is technology. Technology has moved from the back-office to the front line. Namely, the interface between the customer and the firm has changed dramatically. Increasingly, technology is shifting the firm's relationship with its customers from a face-to-face to a screen-to-face interaction.
The impact of the Internet on business is akin to previous innovations. Just as railroads, electric power, and the telephone brought disruption and opportunity to business – transforming it as these innovations swept the world – the Internet is having a similar business impact. The Internet is not an innovation that concerns only one or two sections of the economy. Because it changes the way business should sensibly organize their activities and go to market, the Internet affects all economic activity. The impact of the Internet economy is global, reaching both business and government and levelling the playing field for big and small companies. This levelling goes hand in hand with globalization.